Michael Saylor’s Bitcoin (BTC), treasury firm, Strategy, seems unconcerned by the recent weakening of crypto markets.
Saylor claims that the company has purchased an additional 2,932 BTC at a cost of approximately $264.1 Million, or an average price per Bitcoin of $90,00061 dollars.
Strategy (MSTR), now owns 712 647 BTC, acquired at a cost of approximately $54,19 billion. That’s $76,037 on average per Bitcoin.
MSTR is the largest company in the world to hold Bitcoin. It was also the first publicly traded firm to use BTC exclusively as its treasury reserves.
MSTR has been slipping along with the price of digital assets during recent market downturns.
Saylor, in an interview with Bloomberg earlier this year predicted that Bitcoin wouldn’t have to go through future cycles of boom and bust.
Winter is not returning. This phase is over. Bitcoin is not going to $0, but to $1,000,000 .”
He said that his optimism was due to Trump’s Administration embrace of cryptocurrency and the opportunities it has opened up for institutional adoption in the future.
The banks will be storing Bitcoin. Bitcoin is now past its most risky period. The accounting has also been rectified.
The miners are the only ones who can sell 450 Bitcoins a day. This level translates to around $50 million worth of Bitcoin being available every day. The price will have to rise if that $50,000,000 is purchased to attract any sellers who are price-sensitive .”
Bitcoin currently trades for $88,535.
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As new information becomes available, this post Michael Saylor’s Strategy Buys another $264,100,000.00 in Bitcoin (BTC).
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